Bond On Track Despite MGM Sales Talk
On Monday came the news Amazon is looking to potentially purchase MGM for around $9 billion. Variety reports that while it has been dead silent since then, both sides reportedly remain actively in talks and want to get the deal done soon.
What does that mean for MGM’s upcoming slate, and more specifically for the new Bond film “No Time to Die”? According to the trade, this should have no impact.
Multiple sources tell them any potential acquisition will not change any planned MGM theatrical releases already scheduled for this year with theatrical P&A budgets for the MGM/United Artists Releasing slate already locked.
Several producers’ attorneys have already spoken with MGM business and have reportedly walked away positive as “deals won’t be disrupted” for them.
That means “Respect” on August 13th, the animated “The Addams Family” sequel on October 1st, “No Time to Die” on October 8th, Ridley Scott’s “House of Gucci” on November 26th, and both Joe Wright’s “Cyrano” and Paul Thomas Anderson’s untitled new film at Christmas are still very much going theatrical only.
How such a deal will impact the 2022 MGM theatrical slate however is much more in question and for now less certain.
The deal has thrown industry executives off-balance – stunned over a price tag that appears to overvalue a studio previously valued at closer to $5 billion. It also follows in the wake of the megadeal between WarnerMedia and Discovery as talk of more potential deals have swirled.
While smaller companies like Lionsgate/Starz or AMC Networks have been seen as potential acquisition targets, bankers and analysts have been speculating on bigger scenarios – from what if Apple makes a major purchase along with asking what the other smaller to mid-tier SVOD services will have to do to survive.
Media-industry analyst Michael Nathanson tells the outlet that with a new ‘Big Four’ streaming services in place (Netflix, Amazon, Disney+/Hulu, and now HBO Max/Discovery+), the pressure is on the other smaller players to perform (namely Peacock and Paramount+):
“We believe that NBCUniversal and ViacomCBS are now at an even greater disadvantage in the sector, as they are stuck in no man’s land without the domestic scale and international roadmap to keep up with the now-‘Big Four’ streaming companies.”
One analyst suggests the streaming wars have to sort themselves out and puts an estimate at around three years or so in relation to when this will all “shake out”.